The good news is that as of today RadioShack. Radioshack Optical To Coaxial Digital Audio Converter… has actually formally been purchased by Retail Ecommerce Ventures (REV), giving the struggling business a new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having actually formerly revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter season nights, and an electronic kit or 2 delivered to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website presently states that sales have been momentarily halted to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand internationally.
REV claims it’s successfully reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone seeking to get tech basics. For a long time, that suggested actual radio elements, but wound up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping got here, and the business filed for insolvency two times in the past five years. RadioShack still licenses its name to third-party “authorized” stores and offers branded items within some places of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s although that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Optical To Coaxial Digital Audio Converter
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy costly HDMI cables and knockoff headphones.